Eversource Energy (NYSE:ES) declared a — dividend on Wednesday, September 11th, Wall Street Journal reports. Investors of record on Friday, September 20th will be given a dividend of 0.535 per share by the utilities provider on Monday, September 30th. This represents a dividend yield of 2.6%. The ex-dividend date of this dividend is Thursday, September 19th.
Eversource Energy has increased its dividend by an average of 6.5% per year over the last three years and has increased its dividend every year for the last 3 years. Eversource Energy has a dividend payout ratio of 65.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Eversource Energy to earn $3.64 per share next year, which means the company should continue to be able to cover its $2.14 annual dividend with an expected future payout ratio of 58.8%.
Eversource Energy stock opened at $83.15 on Wednesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.61 and a quick ratio of 0.56. The company has a market capitalization of $26.66 billion, a PE ratio of 25.35, a price-to-earnings-growth ratio of 4.26 and a beta of 0.20. Eversource Energy has a one year low of $60.15 and a one year high of $83.43. The business has a 50 day simple moving average of $79.53 and a 200 day simple moving average of $74.90.
Eversource Energy (NYSE:ES) last posted its earnings results on Wednesday, July 31st. The utilities provider reported $0.74 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.01. The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.95 billion. Eversource Energy had a return on equity of 9.24% and a net margin of 10.00%. Eversource Energy’s revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the company earned $0.76 EPS. Equities analysts anticipate that Eversource Energy will post 3.43 earnings per share for the current fiscal year.
In other news, CFO Philip J. Lembo sold 1,256 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $79.61, for a total transaction of $99,990.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Gregory B. Butler sold 8,298 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $77.30, for a total value of $641,435.40. The disclosure for this sale can be found here. Insiders own 0.37% of the company’s stock.
Several equities analysts recently commented on the company. Zacks Investment Research upgraded Eversource Energy from a “sell” rating to a “hold” rating and set a $82.00 target price for the company in a research report on Monday, June 17th. Guggenheim upgraded Eversource Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $76.00 to $88.00 in a research report on Wednesday, September 4th. Morgan Stanley cut their price objective on Eversource Energy from $78.00 to $77.00 and set an “equal weight” rating for the company in a research report on Friday, August 16th. Barclays lifted their price objective on Eversource Energy from $71.00 to $79.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 18th. Finally, Bank of America set a $78.00 price objective on Eversource Energy and gave the company a “sell” rating in a research report on Monday, July 15th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. Eversource Energy has an average rating of “Hold” and a consensus price target of $78.17.
Eversource Energy Company Profile
Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates in four segments: Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution. It is involved in the transmission and distribution of electricity; and distribution of natural gas.
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